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Payroll Taxes › Small Business

Payroll taxes are taxes that are often calculated and remitted based on a percentage of an employee's wages, but they can also include fixed charges. Payroll taxes consist of two types of taxes: 1) taxes that... more +
Payroll taxes are taxes that are often calculated and remitted based on a percentage of an employee's wages, but they can also include fixed charges. Payroll taxes consist of two types of taxes: 1) taxes that are withheld by an employer from an employee's wages and 2) taxes paid by an employer based on the amount of an employee's wages. These taxes may be advanced income tax payments on behalf of an employee. They are also employer and employee payments to a variety of government programs, such as social security, and unemployment/disability insurance. less -
Ballard Spahr LLP

FinCEN Issues Alert on COVID-19 Employee Retention Tax Credit Fraud

Ballard Spahr LLP on

On November 22, 2023, the Financial Crimes Enforcement Network (“FinCEN”), in close coordination with the Internal Revenue Service (“IRS”) Criminal Investigation (“CI”), issued an alert (“Alert”) regarding the COVID-19...more

Orrick, Herrington & Sutcliffe LLP

SBA clarifies PPP eligibility of payroll costs

Orrick, Herrington & Sutcliffe LLP on

On June 13, the SBA added question #72 to its Paycheck Protection Program (PPP) Frequently Asked Questions clarifying whether “the amounts paid by a borrower to a third-party payer for the third-party payer’s employees to...more

Foley & Lardner LLP

Cos. Should Heed IRS Warnings About Employee Tax Credit

Foley & Lardner LLP on

For most businesses, turning the calendar to 2023 meant putting the pandemic and any of its tax-related effects further in the rearview mirror. One notable exception, however, is the employee retention credit, or ERC,...more

White and Williams LLP

Inflation Reduction Act

White and Williams LLP on

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (“IRA”) into law. While much of the legislation is geared towards climate change mitigation, clean energy, and provisions to promote health care...more

Adams and Reese LLP

More Businesses Now Eligible for Employee Retention Credit (ERC) – Do You Qualify?

Adams and Reese LLP on

What is the ERC? Congress introduced the Employee Retention Credit (ERC) as part of the CARES Act to encourage businesses to keep employees on their payroll during the pandemic. ...more

Lowenstein Sandler LLP

Paycheck Protection Program Round 2: FAQs For Nonprofits - August 2021

Lowenstein Sandler LLP on

The Paycheck Protection Program closed on May 28, 2021. The SBA is no longer accepting new applications from participating lenders. The following FAQs are for informational purposes only and to assist borrowers who obtained...more

K&L Gates LLP

2021 COVID-19 Support Package (NSW)

K&L Gates LLP on

The Commonwealth Government and NSW Government will both be offering financial support to NSW businesses impacted by the recent COVID-19 restrictions and stay-at-home orders. We have tabled the key components of the 2021...more

Lowenstein Sandler LLP

Paycheck Protection Program Round 2: FAQs For Nonprofits - June 2021

Lowenstein Sandler LLP on

The Paycheck Protection Program closed on May 28, 2021. The SBA is no longer accepting new applications from participating lenders. The following FAQs are for informational purposes only and to assist borrowers who obtained...more

Stoel Rives LLP

Year-End Appropriations Act Includes Income and Employment Tax Provisions

Stoel Rives LLP on

The recently enacted Consolidated Appropriations Act, 2021 (Act) contains a wide range of tax, appropriations, and other provisions, including pandemic-specific provisions and extensions of provisions in the Coronavirus Aid,...more

Cole Schotz

Consolidated Appropriations Act Of 2021 Enacted: What Employers Need To Know Now

Cole Schotz on

On the evening of December 21, 2020, the House and Senate approved a $900 billion stimulus package included as part of the Consolidated Appropriations Act of 2021 (the “Act”). The President signed the Act into law on...more

Sands Anderson PC

Federal Stimulus and COVID-19 Relief

Sands Anderson PC on

On December 21, 2020 Congress passed an annual spending bill containing $900 billion in COVID-19 pandemic relief and stimulus measures.  President Trump signed this bill into law on December 27, 2020.  In addition to...more

Schwabe, Williamson & Wyatt PC

Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #6

Schwabe, Williamson & Wyatt PC on

Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more

Lowndes

IRS Doubles Down on Non-Deductibility of Expenses Paid with Forgivable PPP Loan Proceeds

Lowndes on

Back in May, I reported on the IRS’s issuance of Notice 2020-32, in which the IRS answered with a resounding "no" the question of whether businesses that used Paycheck Protection Program (“PPP”) loan proceeds to pay...more

Tonkon Torp LLP

Uncertain Thankfulness: A Tax Deduction Denied & PPP Loan Forgiveness

Tonkon Torp LLP on

Under the CARES Act, PPP loans given to affected borrowers were potentially eligible for forgiveness without cancellation of indebtedness income. To qualify, an affected borrower must certify that (i) “the uncertainty of...more

Husch Blackwell LLP

FAQ: Paycheck Protection Program Forgiveness For Borrowers - UPDATED November 2020

Husch Blackwell LLP on

On May 22, 2020 the SBA and Department of the Treasury released the long awaited Interim Final Rule on Forgiveness of Paycheck Protection Program (PPP) Loans and the Interim Final Rule on SBA Loan Review Procedures, both of...more

Nossaman LLP

On-Demand Webinar | PPP Loan Forgiveness: Employment and Tax Issues for Borrowers

Nossaman LLP on

Introducing Nossaman's Employment BUZZ webinar series! Each month, our attorneys will cover a different topic of interest to employers, including tax, insurance, intellectual property and employment issues. These "quick hit"...more

Pierce Atwood LLP

COVID-19: Governor Mills' Economic Recovery Grant Program; Applications Due September 9

Pierce Atwood LLP on

Maine Governor Janet Mills recently launched the Maine Economic Recovery Grant Program, backed by $200 million in federal CARES Act Coronavirus Relief Funds. The program is designed to provide short-term financial relief for...more

Proskauer Rose LLP

Paycheck Protection Program – Where Are We Now? An Up-To-Date Guide to the Paycheck Protection Program (UPDATED)

Proskauer Rose LLP on

Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business Administration (the “SBA”) and the U.S Treasury Department (“Treasury”) have issued a...more

Greenbaum, Rowe, Smith & Davis LLP

Paycheck Protection Program Update: SBA Issues New FAQs on PPP Loan Forgiveness

Greenbaum, Rowe, Smith & Davis LLP on

In its continuing effort to provide guidance on the Paycheck Protection Program, the Small Business Administration (SBA) released new Frequently Asked Questions (FAQs) specifically targeted to the Loan Forgiveness process on...more

Burr & Forman

SBA Releases PPP Loan Forgiveness FAQs

Burr & Forman on

On August 4, the Small Business Administration (“SBA”) released an initial set of frequently asked questions regarding the forgiveness of paycheck protection program (“PPP”) loans (the questions, the “Forgiveness FAQs”). The...more

Partridge Snow & Hahn LLP

New PPP Loan Forgiveness FAQs Released

Partridge Snow & Hahn LLP on

On August 4, 2020, the U.S. Small Business Administration (“SBA”) and the Department of the Treasury released long-awaited FAQs providing guidance to both lenders and borrowers on Paycheck Protection Program (“PPP”) loan...more

Proskauer - Tax Talks

Coronavirus: Comparing the Tax Proposals in the HEALS and HEROES Acts

Proskauer - Tax Talks on

On July 27, 2020, Senate Republicans introduced a series of bills and proposals that have been collectively referred to as the “Health, Economic Assistance, Liability Protection and Schools Act” (the “HEALS Act”). The HEALS...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Agricultural Industry - Update #5

Schwabe, Williamson & Wyatt PC on

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Agricultural Industry - Update #4

Schwabe, Williamson & Wyatt PC on

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more

Cozen O'Connor

New PPP Forgiveness Application Forms

Cozen O'Connor on

The Paycheck Protection Program Flexibility Act (Flexibility Act), which became effective June 5, significantly changed key elements of the Paycheck Protection Program (PPP), as discussed in Cozen O’Connor’s Alerts posted on...more

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